By Stephan Lee
Updated March 05, 2012 at 10:04 PM EST

We’re not announcing any winners of awards today, just that two more book awards will be doled out each year. The American Library Association (ALA) has established the Andrew Carnegie Medals for Excellence, which will recognize the year’s best fiction and nonfiction books for adults. The ALA confers two of the most prestigious children’s book awards each year: the John Newberry medal for best children’s story and the Randolph Caldecott medal for best illustration. In the spirit of small cash amount, hopefully big cachet, the Andrew Carnegie medals will grant $5,000 to each winning author (Pulitzer winners receive $10,000). The inaugural selection committee, headed by NPR commentator and former librarian Nancy Pearl, will decide on the honorees in June.